Writer: Eleana Teran
2 min read August 2023 — The Triangle continues to prove itself as a dynamic and thriving region as it plays host to major events that have left a lasting impact on the area’s economy.
From comic book enthusiasts to hockey fanatics and esports devotees, Raleigh-Durham has successfully hosted diverse events that bolster tourism, local businesses and community spirit, cementing its status as a top destination for entertainment and economic growth.
Last week, GalaxyCon, the largest event held at the Raleigh Convention Center, celebrated all things fandom, drawing a record-breaking crowd of over 50,000 attendees. From comic books and pop culture to gaming and cosplay, the convention provided a feast for the senses. With celebrity appearances from the likes of Paula Abdul, Christopher Lloyd and Star Trek cast members, the event had a significant impact on the local economy.
According to Jessica Holt from the Greater Raleigh Convention and Visitors Bureau, the pre-event projected economic impact was an impressive $8.5 million. As a result of the event, hotels experienced a surge in bookings. At the same time, businesses outside of the hospitality sector benefited and reported increased sales, especially among anime and manga stores, restaurants and retail outlets.
Similarly, the region boasts a passion for sports as shown during the 2023 Navy Federal Credit Union NHL Stadium Series earlier this year. The event, co-organized by the Carolina Hurricanes, Visit Raleigh and the National Hockey League, featured a game between the Hurricanes and Capitals at the Carter-Finley Stadium and included concerts and basketball games in a weekend-long event. Collectively it contributed a significant $20.1 million to the region’s economy.
Not stopping at traditional sports, the Triangle has rapidly established itself as a thriving hub for esports. Raleigh has successfully hosted several major esports tournaments, including the 2022 Fortnite Championship Series Invitational, the 2022 Apex Legends Global Series Championship and the 2023 League Championship Series Spring Finals, among others. Overall, esports have brought in more than 10,000 overnight visitors to the destination, with an average of 19 countries represented per event.
Earlier this year, the city hosted the 2023 LCS Spring Finals in partnership with Riot Games and Visit Raleigh. The event took place at PNC Arena and generated a direct economic impact of $2.74 million for Wake County. This event demonstrated the region’s ability to be at the forefront of the digital entertainment industry, employing cutting-edge production techniques to create an immersive experience for attendees.
In addition to these successful events, the Triangle’s tourism industry has seen significant growth. Visit Raleigh’s year-end 2022 Wake County Tourism Industry Report revealed record high tax collections, with hotel lodging tax totaling nearly $33 million, a 45.4% increase over 2021. Prepared food and beverage tax collections also reached $40.8 million, up 19.4% over the previous year.
Throughout 2022, Visit Raleigh and the Greater Raleigh Sports Alliance hosted 321 events, tournaments, conferences and groups, welcoming over 4.7 million attendees to the area. Hotel occupancy rose to 66.8% year-to-date, a 16.9% increase over 2021, surpassing both the state and national averages.
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